A spokeswoman for Toll Brothers (NYSE:TOL) declined to comment but several sources familiar with the situation confirmed that the Horsham, Pa., developer is going to be involved in the development at 22nd Street and Pennsylvania Avenue. The project will reportedly be a $100 million effort with 300 rental units and will relocate the Whole Foods currently located about a block away at 21st Street and Pennsylvania Avenue.

Toll Brothers has been increasing its presence in Philadelphia ever since it dipped its toe in the city’s housing market with Naval Square. It continues to seek out potential development sites for new residential projects and has made inroads by picking up the former New Market site at Head House Square a year ago and kicking off earlier this year 2400 South St.

Natalie Kostelni covers real estate and economic development.

Industries:

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.